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Görgün, Cem - 2019

This paper studies monetary regime choice between monetary union and flexible exchange rate regime in a large open economy framework. The classical approach emphasizes that monetary unions are inherently costly because a single interest rate cannot respond effectively to different shocks of...

Persistent link: https://www.econbiz.de/10012131827

Monetary Unions and National Welfare

Gorgun, Cem - 2019

Persistent link: https://www.econbiz.de/10012858555

The Four Unions 'PIE' on the Monetary Union 'CHERRY' : A New Index of European Institutional Integration

Dorrucci, Ettore - 2015

This paper presents a European Index of Regional Institutional Integration (EURII), which maps developments in European integration from 1958 to 2014 on the basis of a monthly dataset. EURII captures what we call: (i) the “Common Market Era”, which lasted from 1958 until 1993; and (ii) the first...

Persistent link: https://www.econbiz.de/10013030488

Fiscal and Monetary Rules for a Currency Union

Ferrero, Andrea - 2021

This paper addresses the question of the joint conduct of fiscal and monetary policy in a currency union. The problem is studied using a two-country DSGE framework with staggered price setting, monopolistic competition in the goods market, distortionary taxation and nominal debt. The two...

Persistent link: https://www.econbiz.de/10013318456

The fragility of two monetary regimes : the European Monetary System and the Eurozone

De Grauwe, Paul; Ji, Yuemei - 2013

We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone … foreign exchange markets while in the Eurozone it was the absence of a lender of last resort in the long-term government bond … Eurozone the roles were reversed. The national central banks that became part of the Eurosystem were strengthened. …

Persistent link: https://www.econbiz.de/10011590398

European monetary integration and aggregate relative deprivation : the dull side of the shiny euro

Stark, Oded; Wlodarczyk, Julia - 2015

Drawing on the premise that the integration of economies revises people's social space and their comparators, we quantify social stress by aggregate relative deprivation, ARD; we calculate the effect of monetary mergers on ARD; and we document the validity of the superadditivity property of ARD...

Persistent link: https://www.econbiz.de/10011281232

Eurozone Creation and Possible Exits : Political, Institutional, Monetary and Economic Issues - An Analysis of the Key Stress Points of the Single Currency and Their Interactions

Masera, Rainer - 2019

Eurozone …

Persistent link: https://www.econbiz.de/10012897801

Hard/Soft Monetary Unions and Blockchain Dynamics

Hegadekatti, Kartik - 2017

The Brexit issue has caused much concern regarding the future economic scenario of Europe in particular and the world in general. There are several reasons for Brexit. One of them is that the very nature of Monetary Unions is its rigidity. The 'one size fits all' yardstick won't apply to many...

Persistent link: https://www.econbiz.de/10012956687

Exchange rate arrangements in the run-up to the EMU : some experience in currency board countries

Kielyte, Julda - 2002

Since the beginning of the transition process from centrally planed to market economies, East European countries have experienced relatively high inflation and a market depreciation of their currency. Their monetary systems have gone through dramatic changes in the recent ten years, making the...

Persistent link: https://www.econbiz.de/10011511064

Exchange Rate Policies for the Transition to Emu

Bofinger, Peter; Wollmershaeuser, Timo - 2005

In this paper we formalize the framework for monetary and exchange rate policy presented in Bofinger and Wollmershäuser [2001a]. We develop a simple comparative static model for an open economy that allows us to discuss monetary policy under the exchange rate strategies of independently...

Persistent link: https://www.econbiz.de/10014066373